*Goodwill acquired when an entity is purchased as opposed to that which has been internally generated. Positive goodwill arises where the purchase cost exceeds the aggregate fair values of the identifiable assets and liabilities. More details are provided by Financial Reporting Standard 10, Goodwill and Intangible Assets. The relevant International Accounting Standards are IAS 22, IAS 36, and IAS 38. Compare inherent goodwill.